Past Events:
• CAD Overnight Rate out at 0.25%, versus expected 0.25%, prior 0.25%
• AUD Cash Rate out at 4.00%, versus expected 4.0%, prior 3.75%
• AUD GDP q/q out at 0.9% versus expected 0.9%, prior 0.2%
• GBP Construction PMI out at 48.5, versus expected 48.9, prior 48.6
• GBP Nationwide Consumer Confidence out at 80 versus expected 71, prior 73
• EUR German Retail Sales m/m out at 0.0% versus expected -0.5%, prior 0.9%
Upcoming Events:
• GBP Halifax HPI m/m (march 3rd-5th)
• GBP Services (0930GMT)
• EUR Retail Sales m/m (1000GMT)
• USD ADP Non-Farm Employment Change (1315GMT)
• USD ISM Non-Manufacturing PMI (1500GMT)
• AUD Trade Balance (tomorrow 0030GMT)
• GBP Official Bank Rate (tomorrow 1200GMT)
• EUR Minimum Bid Rate (tomorrow 1245GMT)
• USD Non-Farm Employment Change (Friday 1330GMT)
Yesterday, the U.K released its construction PMI, showing a fall from its previous level of 48.6 to 48.5 (a number greater than 50.0 indicates expansion, while number below shows contraction). Early this morning (930GMT), the U.K will release its Service PMI- while this report is the last PMI for the week, it is the most important. The service sector, which includes the financial sector, was improving up until last month. After falling to 54.5, analysts predict a slight increase of 0.5 points this month, to a new level of 55.0.
The U.S dollar weakened across the board in Forex market, falling against 15 of its 16 major currency counterparts, following the release of the Bank of Dallas Fed Chairman’s statement that borrowing costs should continue to remain low until the economy picks up- which according to him “won’t happen for some time”.
Later today (1315GMT), the U.S will release its ADP Non-Farm Employment Change. While generally considered a predictive index for Friday’s highly anticipated Change in Non-Farm Payrolls, the ADP is expected to show a drop of 15K. With Payrolls have declined in 24 out of the past 25 months and economists are predicting another decline of 40,000 in February.
• CAD Overnight Rate out at 0.25%, versus expected 0.25%, prior 0.25%
• AUD Cash Rate out at 4.00%, versus expected 4.0%, prior 3.75%
• AUD GDP q/q out at 0.9% versus expected 0.9%, prior 0.2%
• GBP Construction PMI out at 48.5, versus expected 48.9, prior 48.6
• GBP Nationwide Consumer Confidence out at 80 versus expected 71, prior 73
• EUR German Retail Sales m/m out at 0.0% versus expected -0.5%, prior 0.9%
Upcoming Events:
• GBP Halifax HPI m/m (march 3rd-5th)
• GBP Services (0930GMT)
• EUR Retail Sales m/m (1000GMT)
• USD ADP Non-Farm Employment Change (1315GMT)
• USD ISM Non-Manufacturing PMI (1500GMT)
• AUD Trade Balance (tomorrow 0030GMT)
• GBP Official Bank Rate (tomorrow 1200GMT)
• EUR Minimum Bid Rate (tomorrow 1245GMT)
• USD Non-Farm Employment Change (Friday 1330GMT)
Yesterday, the U.K released its construction PMI, showing a fall from its previous level of 48.6 to 48.5 (a number greater than 50.0 indicates expansion, while number below shows contraction). Early this morning (930GMT), the U.K will release its Service PMI- while this report is the last PMI for the week, it is the most important. The service sector, which includes the financial sector, was improving up until last month. After falling to 54.5, analysts predict a slight increase of 0.5 points this month, to a new level of 55.0.
The U.S dollar weakened across the board in Forex market, falling against 15 of its 16 major currency counterparts, following the release of the Bank of Dallas Fed Chairman’s statement that borrowing costs should continue to remain low until the economy picks up- which according to him “won’t happen for some time”.
Later today (1315GMT), the U.S will release its ADP Non-Farm Employment Change. While generally considered a predictive index for Friday’s highly anticipated Change in Non-Farm Payrolls, the ADP is expected to show a drop of 15K. With Payrolls have declined in 24 out of the past 25 months and economists are predicting another decline of 40,000 in February.